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Obsessive Compulsive Disorder Drug Market Overview 2030
Obsessive compulsive disorder is a behavioral or mental disorder in which person has certain thoughts repeatedly or perform certain routines repeatedly. The person who is suffering from this disorder is unable to control his thoughts and activities in short period of time. Excessive hand washing, counting things, and checking to see if a door is locked are most common symptoms of obsessive compulsive disorder. This medical condition is associated with tics, anxiety disorder, and rise in risk of suicide. Selective serotonin reuptake inhibitors, antidepressants, antipsychotics, antianxiety, and others are prescribed to the patient for treatment of this disease. Moreover, clomipramine, aripiprazole, dextroamphetamine, risperidone, and olanzapine are the drugs which can be used in treatment of the obsessive compulsive disorder.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the obsessive compulsion disorder drug market.
Top Impacting Factors
Market Trends
New Product Launches to Flourish the Market
In 2019, Lupin announced launch of antidepressant tablets in U.S. This tablet contain 10 mg / 20 mg Fluoxetine which can be used in treatment of obsessive compulsive disorder and bulimia nervosa.
In 2019, Lupin announced approval of U.S. Food and Drug Administration for launch of Anafranil capsules. This product contain Clomipramine which can be used in treatment of obsessive compulsive disorder.
In 2019, Upsher Smith launched generic version of Prozac Fluoxetine tablets in U.S. market. This drug help in treatment of obsessive compulsive disorder.
Key Benefits of the Report
Questions Answered in the Obsessive Compulsion Disorder Drug Market Report
Key Market Segments
Key Market Players